Get All Access for $5/mo

Walmart Store Managers Will Get Up to $20K in Stock Every Year, Pushing Top-Earners Over $525K in Total Compensation "We ask our managers to own their roles and act like owners. Now, they'll literally be owners."

By Dominick Reuter

Key Takeaways

  • Walmart store managers are set to receive annual stock grants ranging from $10,000 to $20,000.
  • The amount of the grant will depend on the size of the store, from hometown stores to Supercenters.
  • The move follows significant increases in salary and bonuses that kick in on February 1.
Rick T. Wilking/Getty Images via Business Insider

This article originally appeared on Business Insider.

It's a good year to be a store manager at Walmart.

Fresh off the announcement earlier this month of substantial pay and bonus increases, the company said Monday that it is adding annual stock grants of up to $20,000 to the store managers' compensation packages.

"A Walmart store manager is running a multi-million dollar business and managing hundreds of people, and it's a far more complex job today then when I managed a store," said John Furner, President and CEO for Walmart's U.S. division, in a video posted on LinkedIn as the company kicks off an annual meeting in Houston, Texas.

"We ask our managers to own their roles and act like owners," he added. "Now, they'll literally be owners."

The amount of the grant will depend on the size of the store, with $10,000 for Hometown store managers, $15,000 for Neighborhood Market or Division 1 store managers, and $20,000 for Supercenter managers. Furner said the grants will start in April.

Walmart operates more than 4,600 retail locations across the US and employs 1.6 million people here.

These grants are on top of a new salary and bonus structure that will kick in on Thursday, February 1, bringing the average base salary for US store managers to $128,000, up from $117,000.

Under the plan announced on January 18, the maximum bonus increased from 1.5x annual salary to 2x annual salary — and will focus more on store profitability in addition to top-line sales.

This means a Supercenter manager with a top-end base salary of $170,000 could earn a total of $530,000 after receiving the maximum bonus and stock grant, while the average U.S. store manager could see roughly $400,000 in compensation this year.

Roughly three-quarters of Walmart store managers started off in hourly roles, and the company does not require a college degree to be considered for the job.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Side Hustle He Started in His College Apartment Turned Into a $70,000-a-Month Income Stream — Then Earned Nearly $2 Million Last Year

Kyle Morrand and his college roommates loved playing retro video games — and the pastime would help launch his career.

Growing a Business

How Visionary Leaders Transform Curiosity Into Groundbreaking Ideas

Lee Brian Schrager, founder of the South Beach Wine & Food Festival, discusses the spark that launched FoodieCon, his best practices for running popular food events, and why all business owners need to adapt to social media trends.

Business News

Homeowners in These 10 States Pay the Most in 'Hidden' Upkeep Costs

Hidden home costs pile on top of mortgage payments.

Data & Recovery

Get $60 off This Portable VPN Travel Router

Why keep paying for a VPN service when you can have a tiny, lightweight piece of hardware that can provide you with a lifetime of maximum VPN protection?

Money & Finance

Avoid These 10 Mistakes Entrepreneurs Make with Money

Despite the challenging statistic that only 5% of startups survive beyond five years, common financial pitfalls often contribute to their failure. Through personal observation, I've identified the prevalent financial mistakes made by entrepreneurs.

Growing a Business

5 Books to Help You Motivate, Unify and Build Perspective

In a post-Covid world, check out these must-read books to help build a more resilient organization, create a modern work culture and maintain a powerful growth mindset.